The geriatric population is likely to increase to 25.4 Million in FY’2025. This will lead to an increase in demand for diagnosis and treatment of various health ailments like chronic disorders.
- The per capita healthcare expenditure will likely grow at a CAGR of 3.8% to a value of USD 1,419.8 Crore in 2025. This will lead to growth in the sales volume of various medical devices.
- Increase in penetration of medical insurance in the country as a result of positive growth in the disposable income will aid in increasing the penetration of healthcare facilities to remote areas. This will lead to a rise in the revenue of the medical device industry.
Rising Penetration of Insurance and Growth in Medical Tourism: The country will show vital signs of economic recovery which will complement growth in the medical insurance sector. Consequentially, an increase in investments in the private healthcare insurance businesses will fuel the number of medical procedures that will ultimately lead to a rise in the revenue of the industry. The influx of medical tourists in the country (estimated 1.5 million surgeries every year) will complement the revenue medical device market.
Key Healthcare Initiatives and Growth in Health-tech Sector: Schemes like digitization of health records, growth in telehealth, and mobile health, AI-based health-tech startups (more than 250 startups till 2018) aim at extending healthcare facilities to remote regions. In the light of these schemes, the medical device sector is expected o witness rapid growth in the volume market that will ultimately complement the revenue of the industry.
Expanding Healthcare Infrastructure: Increase in the number of public hospitals (2,200 in 2013 to an estimated 2,600 in 2025) will lead to higher revenue realization as newer capital equipment with upgraded technology will be installed in tertiary hospitals. Also, the business of medical device companies will be propelled by increasing the number of cardiac disorders and increasing the prevalence of cancer.
Analysts at Ken Research in their latest publication “Brazil Medical Device Market Outlook to 2025 – by Type of Device (Reagent for In-Vitro Diagnostics, Materials and Supplies, Laboratory Equipment and Others), Type of Business Activity (Import and Local Production), Channel of Sales (Distributor and Direct), Type of End User (Hospital, Clinics, and Diagnostic Lab Centers and Others) and By Region (South-East, South, North-East, Mid-West, and North)” observed that medical device in Brazil is in the growth stage and it can be further expanded through rising healthcare expenditure, increasing healthcare establishments and increasing penetration of medical insurance. The market is expected to register a positive CAGR of 5.8% in terms of revenue during the forecast period 2018-2025F.
Key Segments Covered:-
By Business Activity
By Sales Channel
By Type of Device
Reagents for In-Vitro Diagnostics
Materials and Supplies
Orthosis and Prosthesis
Diagnostic Imaging and Supplies
Other Hospital Equipment
By Type of End-User
Diagnostic Lab Centers and Others
Key Target Audience
Medical Device Manufacturers
Medical Device Distributors
Medical Device Importers
IVD Device Companies
Orthopedic Device Companies
Hospital Furniture Manufacturers
Diagnostic Imaging Device Companies
Time Period Captured in the Report:
Historical Period: 2013- 2018
Forecast Period: 2019 – 2025
Baxter International Becton and Dickinson
Terumo Medical Corporation
Edwards Life Sciences
Key Topics Covered in the Report:-
Brazil Medical Consumables Device Market
Brazil Medical Device Market
Brazil Medical Device Industry
Medical Device Market Brazil
Brazil Diagnostic Imaging Equipments Market
Brazil Hospital Equipment Market Manufacturers
Brazil Medical Device Local Production Market
Brazil Medical Device Market Analysis
Brazil Medical Device Market Distributor
Brazil Medical Device Market Growth Rate
Brazil Medical Device Market Growth Revenue
Brazil Medical Device Market Importers
Brazil Medical Device Market Research Report
Brazil Orthopedic Device Market Growth
Competition of Brazil Medical Device Companies
For More Information On The Research Report, Refer To Below Link:-
Related Reports by Ken Research:-
India Medical Device Market Outlook to 2023 – by IVD Market (Type of Device, Sales Channel, Domestic Manufacturing and Import), by Diagnostic Imaging Market (Type of Device, Domestic Manufacturing and Import) and by Patient Aid Market (Orthopedic Device, Hospital Furniture and Hearing Aid)
Ankur Gupta, Head Marketing & Communications